X Consigns goods to Y of Rs. 70000 at cost + 50% of cost. 50% of goods sold at Rs. 65000

1 Commission 10% of sales +25% of sales exceeds IP

2 Commission 10% of sales +25% of sales exceeds Cost

3 Commission 10% of IP + 25% of IP exceeds cost

10% of ip and 20% of sales exceeds all commission over IP

10% of ip and 20% of sales exceeds all commission over cost

10% of sales and 20% of sales exceeds all commission over IP

10% of sales and 20% of sales exceeds all commission over cost

Find commission

Answer :

Cost 35000

IP 52500(70000*50/100)150%

Sales 65000

1 6500+25/100(65000-52500) =9625

2 6500+25/100(65000-35000) =14000

3 5250+25/100(52500-35000)= 9625

4 sale 65000

Less : IP 52500

Less:normal 5250

Balance 7250*20/120= 1208

Total commission 5250+1208= 6458

5 sale 65000

Less : cost 35000

Less:normal 5250

Balance 24750*20/120= 4125

Total commission 5250+4125= 9375

6 sale 65000

Less : IP 52500

Less:normal 6500

Balance 6000*20/120= 1000

Total commission 6500+1000= 7500

7 sale 65000

Less : cost 35000

Less:normal 6500

Balance 23500*20/120= 3917

Total commission 6500+3917=10417

X consigns goods to Y 50000 at cost+20% of IP. 60% of goods sold at Rs. 45000.

1 Commission 10% of sales +25% of sales exceeds IP

2 Commission 10% of sales +25% of sales exceeds Cost

3 Commission 10% of IP + 25% of IP exceeds cost

4 10% of ip and 20% of sales exceeds all commission over IP

5 10% of ip and 20% of sales exceeds all commission over cost

6 10% of sales and 20% of sales exceeds all commission over IP

10% of sales and 20% of sales exceeds all commission over cost

Find commission

Cost 30000

IP 37500(50000*60/100)125%

Sales 45000

1 4500+25/100(45000-37500) =6375

2 4500+25/100(45000-30000) =8250

3 3750+25/100(37500-30000)= 5625

4 sale 45000

Less : IP 37500

Less:normal 3750

Balance 3750*20/120= 625

Total commission 3750+625= 4375

5 sale 45000

Less : cost 30000

Less:normal 3750

Balance 11250*20/120= 1875

Total commission 3750+1875= 5625

6 sale 45000

Less : IP 37500

Less:normal 4500

Balance 3000*20/120= 500

Total commission 4500+500= 5000

7 sale 45000

Less : cost 30000

Less:normal 4500

Balance 10500*20/120= 1750

Total commission 4500+1750=6250

question :

X consigned the goods costing 50000 at a IP (IP = cost +25% profit on IP), 10% of goods sent lost in transit, 90% of remaining is received. 3/5th of goods received are sold at Rs. 60000. Consignor’s expenses 5000. While consingee’s expenses non recurring 4000. Recurring 5000.

Commission 10% of sales value + 25% of sales exceed cost.

½ of balance goods lost in godown. Prepare consignment account and Y’s account.